2024-07-18T08:26:29+00:00
Shafaq News
/ On Thursday, gold prices edged higher in Baghdad and Erbil markets.
Shafaq News
Agency’s correspondent reported that gold prices in Baghdad’s Al-Nahr Street
recorded a selling price of 524,000 IQD per mithqal (equals to five grams) of
21-carat gold, including Gulf, Turkish, and European gold, with a buying price
of 520,000 IQD.
The selling
price per mithqal of 21-carat Iraqi gold reached 494,000 IQD, with a buying
price of 490,000 IQD.
In jewelry
stores, the selling price per mithqal of 21-carat Gulf gold ranged between 525,000
and 535,000 IQD, while the selling price of Iraqi gold fluctuated between 495,000
and 505,000 IQD.
In Erbil, a
mithqal of 24-carat gold was sold at 595,000 IQD, 21-carat gold at 520,000 IQD,
and 18-carat gold was sold at 445,000 IQD.
### Additional Insight:
#### Gold Market Trends
While the article provides valuable information about the current gold prices in Baghdad and Erbil markets, it’s essential to note that gold prices can fluctuate rapidly due to various factors like economic conditions, geopolitical events, and market speculation. Investors and traders often monitor these trends closely to make informed decisions.
#### Impact of Global Events
Global events such as changes in government policies, natural disasters, or health crises like pandemics can significantly influence the price of gold. These external factors can create volatility in the market, making it crucial for stakeholders to stay updated and adapt their strategies accordingly.
#### Diversification Benefits
Many investors view gold as a safe-haven asset that can provide diversification benefits to their portfolios. Gold’s historical track record of retaining value during economic uncertainties makes it an attractive option for risk management. Understanding the relationship between gold prices and other asset classes can help investors achieve a balanced portfolio.
By considering these additional insights, stakeholders can gain a more comprehensive understanding of the gold market and make well-informed decisions regarding their investments.
